Montreal Rents Continue to Edge Higher in Q2

July 24, 2025:  Urbanation Inc., Canada’s leading source of information and analysis on the rental and condominium markets since 1981, released its Q2-2025 Montreal Rental Market results today.

Market rents for available purpose-built rental units averaged $2.64 per square foot across the Greater Montreal Area in Q2-2025, increasing by 3.5% compared to Q1-2025 and by 0.4% compared to a year ago in Q2-2024. The annual rate of rent increase slowed from 0.8% in Q1-2025 and 4.6% in Q4-2024.

Urbanation’s rental market database for Montreal was developed through a partnership with Rentsync, the national leader for multi-family property marketing and technology. The database provides the most comprehensive and detailed reporting on purpose-built rentals in Montreal, leveraging real-time market rents available through Canada’s largest network of online rental marketplaces. In Q2-2025, market rents were reported for approximately 19,000 purpose-built rentals that were available for lease across the Greater Montreal Area.

Monthly rental costs for available purpose-built rentals in the Greater Montreal Area averaged $1,991 in Q2-2025, a 3.9% increase from one year earlier. The average unit size for available purpose rentals was 756 square feet (sf), rising from an average of 729 sf in Q2-2024.

Overall, market rents in Montreal were found to be 7% lower than in the Ottawa-Gatineau Area ($2.83 per square foot) and 22% lower than in the Greater Toronto-Hamilton Area ($3.39 per square foot).

The slowdown in rent growth in Montreal over the past year can be partly explained by a shift in availability towards more two- and three-bedroom units, which have lower average per square foot rents than one-bedrooms and studios. In Q2-2025, a 43% share of units available for lease were two- and three-bedroom units, rising from a 37% share in Q2-2024. Over the same period, the share of one-bedrooms and studios decreased from 63% to 57%.

Average per square foot rents were highest for studios in Q2-2025 at $3.39 ($1,488 for 438 sf), followed by one-bedroom units at $2.76 ($1,748 for 634 sf). Two-bedroom average per square foot rents were $2.46 ($2,295 for 933 sf), while three-bedroom apartments had the lowest average per square foot rents at $2.37 ($2,843 for 1,197 sf).

Average per square foot rents increased the most over the past year for studios (+2.4%) and three-bedroom apartments (+2.2%). One-bedroom and two-bedroom average per square foot rents increased by 1.8% and 1.7%, respectively.

Average per square foot rents for newer buildings completed since 2000 were notably higher than older buildings completed prior to 2000, with premiums ranging from 15% for three-bedroom units ($2.54 vs. $2.21), 14% for two-bedrooms ($2.57 vs. $2.26) and studios ($3.67 vs. $3.22), and 8% for one-bedroom units ($2.87 vs. $2.64). Units in newer buildings were larger on average than units in older buildings (789 sf vs. 718 sf), with average monthly rental costs that were 20% higher ($2,158 vs. $1,803). 

Rentals in the tallest buildings at 20-plus storeys had the smallest average unit sizes (663 sf) but were also the most expensive with the highest average monthly rents ($2,075) and highest average per square foot rents ($3.13). Meanwhile, low-to-mid-rise buildings at less than 10 storeys had the largest average unit sizes (795 sf) yet were also most affordable with average monthly costs of $1,925 and average per square foot rents of $2.42.

Regionally, The City of Montreal had average per square foot rents of $2.71 ($1,975 for 728 sf), 16% higher than the average in the Montreal Suburbs at $2.34 ($2,066 for 885 sf). Across every unit type, average monthly rents and average per square foot rents were higher in the City of Montreal than in the Montreal suburbs. The highest average per square foot rents were in the Montreal Core at $2.86 ($1,986 for 695 sf). Among unit types, studios in the West Island had the highest average per square foot rents at $3.88 ($1,600 for 412 sf). In the Montreal Suburbs, the highest average per square foot rents were found in Laval at $2.41 ($2,152 for 891 sf). Chateauguay had the highest average monthly rental costs at $2,274 based on an average unit size of 971 sf. The most affordable market was Brossard-Longueuil with average monthly rents of $1,803 and average per square foot rents of $2.12.

“The Montreal rental market has remained stable even as large quantities of new supply are being delivered. This speaks to the strength in demand for rentals in Montreal, supported by the region’s high level of population growth, its diverse economy, relatively good affordability, and wide range of options for renters across the market”.

                                                                                          —Shaun Hildebrand, President of Urbanation

ABOUT THE MONTREAL RENTAL MARKET DATABASE

The Montreal Rental Market Database reports on market rents updated in real time for purpose-built rental projects across the Greater Montreal Area. The database provides detailed market reporting on per square foot rents by property, unit type (i.e. number of bedrooms and bathrooms), and unit size layout. The database tracks eight regions, 26 municipalities, 86 submarkets and 700 properties across Greater Montreal, with approximately 7,000 rent updates per month. Each property contains a complete project profile summarizing and describing building attributes, amenities, suite features, property management, neighbourhood/location information, interior/exterior photos, and incentives. The database can be searched by geographic area or address, with highly customizable mapping and filtering tools. 

The Montreal Rental Market Database is offered on a subscription basis. For more information or to schedule a demo of the database, please reach out to [email protected]

www.urbanation.ca                                                                              

www.rentsync.com